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Friday, November 13, 2015

China dominates global clean energy market

Solar capacity in China has expanded almost five times since 2012, and about 17 percent of the world’s solar capacity now is in the country. China was the biggest renewables market in the world with 433 gigawatts of generating capacity at the end of 2014, more than double the U.S. in second place with 182 gigawatts.In 2014 country added 56 gigawatts of clean energy, more than four times the U.S. The most-polluting fossil fuel still accounts for 61 percent of China’s electricity generation, followed by hydro at 21 percent and wind at 8 percent. To meet its commitments under UNFCCC, nation's carbon emissions need to peak around 2030, which would require adding as much as 1,000 gigawatts of capacity from low-carbon emitting energy sources. That’s roughly equal to the total installed power capacity in the U.S. at the moment. Read more at http://www.bloomberg.com/